1 00:00:00.505 --> 00:00:01.045 Hey everyone. 2 00:00:01.045 --> 00:00:03.605 Alison Berger here at Broker Fair 2024. 3 00:00:03.865 --> 00:00:06.525 I'm with Joyce Arnold with Thomson Reuters. 4 00:00:06.995 --> 00:00:08.445 Tell me what you're doing here today. 5 00:00:09.035 --> 00:00:10.685 Yeah, really happy to be here again 6 00:00:10.685 --> 00:00:11.885 at another D banked event. 7 00:00:12.145 --> 00:00:14.805 We are super excited to be in one room with our clients, 8 00:00:15.155 --> 00:00:17.085 with all the brokers here, um, 9 00:00:17.625 --> 00:00:21.125 and really sharing what we can offer that's new 10 00:00:21.125 --> 00:00:22.445 with Thomson Reuters. Clear 11 00:00:22.865 --> 00:00:24.045 And what is that? What's new? 12 00:00:24.385 --> 00:00:25.485 Yes. So, um, 13 00:00:25.485 --> 00:00:28.045 Thomson Reuters Clear is a background due diligence 14 00:00:28.405 --> 00:00:29.405 investigation tool. 15 00:00:29.745 --> 00:00:32.845 Um, it's widely used at underwriting for fraud prevention 16 00:00:33.065 --> 00:00:35.685 and you could look at all your lawsuits, liens, judgments, 17 00:00:36.125 --> 00:00:39.205 bankruptcies, UCC filings, criminal records, it's all there. 18 00:00:39.555 --> 00:00:41.445 It's widely adopted in this industry 19 00:00:41.905 --> 00:00:45.085 and we're really excited to share our new alert center, um, 20 00:00:45.155 --> 00:00:49.205 that allows our clients to keep tabs on their merchants 21 00:00:49.665 --> 00:00:51.405 for continuous, uh, risk, 22 00:00:51.405 --> 00:00:54.405 which would be things like a new bankruptcy if it didn't 23 00:00:54.405 --> 00:00:58.605 appear originally, or a new UCC filing, new lawsuits. 24 00:00:58.865 --> 00:01:01.285 Um, these are all things that they want to be informed of. 25 00:01:01.615 --> 00:01:02.925 Often they're doing it manually 26 00:01:02.925 --> 00:01:04.565 and we have a brand new clear alert 27 00:01:04.565 --> 00:01:05.845 center that can help with that. 28 00:01:06.525 --> 00:01:08.465 And what type of clients should be coming to you 29 00:01:08.465 --> 00:01:09.585 to use these types of services? 30 00:01:09.975 --> 00:01:11.465 Yeah, so definitely the funders. 31 00:01:11.685 --> 00:01:13.105 Um, we mainly work with those 32 00:01:13.245 --> 00:01:16.025 and most in the room, which is very exciting for us 33 00:01:16.025 --> 00:01:17.265 to come in and see everyone. 34 00:01:17.805 --> 00:01:20.825 Um, brokers are continually getting into the funding 35 00:01:20.835 --> 00:01:21.945 space as we all know. 36 00:01:22.365 --> 00:01:24.145 Um, and of course folks are, you know, 37 00:01:24.425 --> 00:01:26.265 starting off on their own ventures if they've been working 38 00:01:26.265 --> 00:01:27.265 for funders as well. 39 00:01:27.845 --> 00:01:29.825 So really mostly funders. 40 00:01:29.845 --> 00:01:32.265 If any brokers interested in doing some initial due 41 00:01:32.265 --> 00:01:34.185 diligence, certainly they can work with us. 42 00:01:34.725 --> 00:01:37.145 Um, and then, you know, it can be used 43 00:01:37.145 --> 00:01:38.865 for the underwriting collections, 44 00:01:38.975 --> 00:01:40.705 looking at your capital partners, 45 00:01:40.925 --> 00:01:44.425 better understanding those folks for counterparty risk, um, 46 00:01:44.565 --> 00:01:46.625 and really on and on anywhere where you need a background 47 00:01:47.685 --> 00:01:49.385 That's need, needed and necessary. 48 00:01:49.805 --> 00:01:52.145 So what type of trends have you been seeing going on in 49 00:01:52.185 --> 00:01:53.345 the industry so far this year? 50 00:01:53.935 --> 00:01:55.745 Yeah, I mean, everyone is continually 51 00:01:55.745 --> 00:01:56.945 trying to prevent fraud. 52 00:01:57.095 --> 00:02:00.265 There's plenty of fraud out there in this industry. 53 00:02:00.625 --> 00:02:03.065 Everyone is pretty much nationwide and not face to face. 54 00:02:03.325 --> 00:02:05.705 So there's a huge need to look at public records 55 00:02:06.165 --> 00:02:09.305 to understand a, is this person a real person? 56 00:02:09.565 --> 00:02:11.905 Are they actually associated with the business? 57 00:02:12.405 --> 00:02:14.505 And from there, do we want to do business with them? 58 00:02:14.925 --> 00:02:17.185 And now with this clear alert center, it continues 59 00:02:17.185 --> 00:02:19.785 to answer the question, do we want to continue 60 00:02:19.965 --> 00:02:21.625 to fund new deals? 61 00:02:23.335 --> 00:02:26.025 It's really important. It's like a major thing 62 00:02:26.025 --> 00:02:28.105 that's been going on throughout the world 63 00:02:28.335 --> 00:02:30.185 that it's really needs help. 64 00:02:30.985 --> 00:02:32.105 Absolutely, absolutely. And 65 00:02:32.105 --> 00:02:33.265 it's no different in this space. 66 00:02:33.525 --> 00:02:35.705 Um, you know, the funders that always ask me, 67 00:02:35.705 --> 00:02:37.505 are the banks experiencing the same thing? 68 00:02:37.925 --> 00:02:39.105 And I say, absolutely. 69 00:02:39.165 --> 00:02:41.465 And the banks are saying the same thing. Oh wow. 70 00:02:41.465 --> 00:02:43.065 Other folks outside of us are seeing 71 00:02:43.065 --> 00:02:44.145 all the suspicious activity. 72 00:02:44.545 --> 00:02:47.065 Absolutely. So we really do help to solve for that. 73 00:02:47.645 --> 00:02:48.985 And how do you think this is going 74 00:02:48.985 --> 00:02:50.385 to progress throughout the rest of the year? 75 00:02:51.385 --> 00:02:54.225 I would expect the need will only probably increase. 76 00:02:54.285 --> 00:02:57.345 We know we have AI kind of drumming up more problems. 77 00:02:57.845 --> 00:02:59.105 Um, it's a wonderful tool, 78 00:02:59.265 --> 00:03:03.685 but it can be used by bad actors to do more harm for folks. 79 00:03:04.025 --> 00:03:07.005 Uh, so I would say there's more need than ever 80 00:03:07.025 --> 00:03:08.485 and we're really doing everything we can 81 00:03:08.505 --> 00:03:09.685 to rise to meet the needs. 82 00:03:10.065 --> 00:03:11.805 That's so interesting. You're the first person 83 00:03:11.815 --> 00:03:13.005 today to bring up ai. 84 00:03:13.105 --> 00:03:16.165 So is that a future cha big challenge that 85 00:03:16.745 --> 00:03:18.005 we might face? Uh, 86 00:03:18.405 --> 00:03:19.405 Absolutely. Yeah, no, I've 87 00:03:19.405 --> 00:03:20.285 talked about this before, 88 00:03:20.385 --> 00:03:23.365 but for sure AI gives the opportunity to manipulate, 89 00:03:23.865 --> 00:03:26.365 you know, obviously information, gather information 90 00:03:26.365 --> 00:03:29.885 that's available and generated into a fictitious identity 91 00:03:30.505 --> 00:03:33.525 to go online to your portal and request a loan. 92 00:03:33.835 --> 00:03:35.325 It's that simple. Um, 93 00:03:35.585 --> 00:03:37.605 and really there's so much more that can go into that, 94 00:03:37.665 --> 00:03:39.085 but that's just the tip of the iceberg. 95 00:03:39.085 --> 00:03:40.125 And the answer is yes. 96 00:03:40.425 --> 00:03:42.765 That's why we need more face-to-face moments like this. 97 00:03:42.785 --> 00:03:44.605 So we know who we're really talking to. 98 00:03:45.065 --> 00:03:46.525 Of course. And as it's been said, 99 00:03:46.585 --> 00:03:48.325 if you don't get into a room with the people 100 00:03:48.325 --> 00:03:50.205 who you're brokering with, if you don't get into a room 101 00:03:50.205 --> 00:03:51.445 with the vendors you're working with, 102 00:03:51.635 --> 00:03:53.805 then really you're setting yourself up 103 00:03:53.805 --> 00:03:55.765 for more risk than you need to. Great. 104 00:03:56.635 --> 00:03:59.485 Well said. So what have you been looking forward to most 105 00:03:59.585 --> 00:04:00.765 to coming to today's event? 106 00:04:01.235 --> 00:04:02.525 Yeah, like I said, really just 107 00:04:02.525 --> 00:04:03.725 seeing everyone face to face. 108 00:04:03.885 --> 00:04:06.285 A lot of these are familiar faces, clients of ours. 109 00:04:06.625 --> 00:04:08.845 Um, it's an opportunity to all be in one room together. 110 00:04:09.765 --> 00:04:12.445 Referrals are very helpful and fruitful here. Of course. 111 00:04:12.745 --> 00:04:14.125 Um, everyone's willing to help 112 00:04:14.305 --> 00:04:17.005 and, you know, share, you know, what they, 113 00:04:17.035 --> 00:04:19.005 what they've relied on when they trust in us 114 00:04:19.145 --> 00:04:20.445 to, to pass that along. 115 00:04:20.945 --> 00:04:22.045 So we appreciate that. 116 00:04:22.145 --> 00:04:24.125 But you know, I've been coming to these over 117 00:04:24.125 --> 00:04:25.925 and over for a few years now 118 00:04:25.985 --> 00:04:28.365 and it's just a great event to see people. 119 00:04:28.945 --> 00:04:31.325 We love that. And we love to see you at all of our events. 120 00:04:31.425 --> 00:04:34.245 So thank you for joining me and we'll be right back.